3 Under $1 Penny Stocks to Watch as April Ends
If you’re looking for penny stocks to buy under $1, there are a few things you need to keep in mind. First, penny stocks that trade for less than $1 are often considered more volatile than their higher priced counterparts. That means they can go up or down in value very quickly, and often, this occurs with little to no news to back it.
Second, while there are exceptions, most investors that trade stocks for less than $1 are looking to make short term speculative gains. That is because of that aforementioned volatility and investors working to take advantage of that. While penny stocks are very volatile, having a trading strategy is the best way to take advantage of that.
There are a few different strategies you can use when looking for stocks to buy under $1. One strategy is to do research to identify stocks that may be undervalued based on their financial performance or market trends.
Another strategy is to follow the latest news and events to understand how different announcements will affect both the penny stocks on your watchlist and industries at large. No matter what strategy you use, always remember to monitor your stocks closely and never invest more than you can afford to lose.
Penny stocks are a high-risk investment, but if done correctly, they can offer the potential for high rewards. So with that in mind, let’s take a look at three penny stocks to watch under $1.
3 Under $1 Penny Stocks to Add to Your List Right Now
Imperial Petroleum Inc. (NASDAQ: IMPP)
One of the bigger gainers of the day at midday on April 28th is IMPP stock. By the late afternoon, shares of IMPP had climbed by over 3.9% to more than $0.99. at just shy of $1, we have to take a look at why there is so much momentum with Imperial Petroleum right now.
One of the main reasons comes as the energy industry has continued to heat up in the past two months. With the conflict in Ukraine still ongoing, many investors have turned to energy penny stocks as a way to bet on higher demand. Specific to Imperial Petroleum, the company recently reported its Q4 and full year financial results for 2021 on March 29th.
“Since becoming an independent public company, Imperial Petroleum has had an outstanding course. The daily share trading volume has stunned all of us and investors expressed their trust in our Company’s vision by helping us raise about $90 million of new equity.
We are truly indebted and obliged to our investors, and grateful for their trust and confidence in Imperial Petroleum. Our core strategy is growth as evident from the acquisition of two product tankers.”The CEO of Imperial Petroleum, Harry Vafias
This was and is great news for the company and continues to show why investors are interested in it. With all of that considered, will IMPP be on your list of penny stocks to buy or not?
IT Tech Packaging Inc. (NYSE: ITP)
By midday, ITP stock had shot up by over 9.9%. And with over 39% in gains in the past five days, ITP is definitely a penny stock that investors are watching right now. And, in the past month, we’ve seen shares of ITP climb by over 85%.
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To understand why shares are climbing, we have to take a look at some of its most recent news and events. On March 15th, the company announced its Q4 2021 and full year 2021 financial results.
“We are pleased with our performance for the fiscal year 2021, as we demonstrated excellent revenue growth and improved business efficiencies.
In fiscal year 2021, our business execution was reflected as we reached approximately $160.88 million in revenue with an increase of 59% year-over-year and approximately $11.02 million in gross profit with an increase of 93% year-over-year.
In fiscal year 2021, we launched a series of initiatives to optimize our revenue structure and diversify our business, which led to a very encouraging results.”The Chairman and CEO of IT Tech Packaging, Mr. Zhenyong Liu
This is exciting news for the company and shows that ITP is working hard to grow. As a provider of paper products, face masks, and much more, the company has a lot to offer potential investors. With all of that in mind, will it be on your penny stocks watchlist or not?
Timber Pharmaceuticals Inc. (NYSE: TMBR)
Another gainer so far today is TMBR stock, which pushed up by over 8.3% at midday. In the past six months, shares of TMBR have shot down by around 60%, which makes today’s gain even more impressive. While many penny stocks climb with little to no news, Timber made an exciting announcement during premarket trading today.
“Based on the clinical success that TMB-001 has shown to date, we believe we have an important opportunity to dramatically improve the lives of people living with congenital ichthyosis (CI) who currently have no FDA-approved treatments and limited standard of care options.
The designation of Fast Track status is a significant achievement that speaks to the unmet need in CI. Now we can communicate frequently with the FDA throughout our pivotal Phase 3 ASCEND clinical trial with the goal of earlier drug approval and access by patients.”The CEO and Chairman of Timber Pharmaceuticals, John Koconis
If you’re not familiar, Timber Pharmaceuticals is a biopharmaceutical company that develops and commercializes treatments for rare and orphan diseases.
It currently has a variety of these compounds in the pipeline. And, over the past few weeks, we’ve seen major bullish emphasis with biotech penny stocks. With that in mind, do you think that TMBR stock is worth buying or not?
Which Penny Stocks Are You Watching Right Now?
With so many penny stocks to choose from, it can be difficult to find the best ones for your watchlist. But, with a careful understanding of how the market is moving and where to look, investors can have a much easier time taking advantage of current market trends. So, with that in mind, which penny stocks are you watching right now?